Home » NEWS » Manufacturing » Crankshaft maker ready to crank up in January

Crankshaft maker ready to crank up in January

By JACK WEATHERLY

Feuer Powertrain GMBH will start making crankshafts in January, it announced recently.

The $140 million private investment is expected to employ 300.

About 100 are on board now, as the R0binsonville (Tunica County) facility has ramped up this year.

Public investment totals $27.5 million from and through the Mississippi Development Authority.

Those investments include a $10 million grant for local builders; a $5 million construction loan for builders; a $5 million small-business credit guarantee for equipment financing; $1 million grant for additional work-force training or relocation expense; $1.5 million grant to Feuer for electrical redundancy upgrades; a $1.5 million grant to locals for site preparation needs, and a $1.26 million loan to locals for site prep needs.

About two-thirds of the Germany-based manufacturers’ output is for automakers such as Audi, BMW, Ferrari, Jaguar and Volkswagen, the company said on its website.

“It’s a big advantage that we can now respond to the great market potential in North America by serving our customers from a strategic location,” Feuer Powertrain North America President and Chief Executive Dominic Dieg said in a release at the plant’s grand opening last week.

BEFORE YOU GO…

… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.

If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.

Click for more info

About Jack Weatherly

Leave a Reply

Your email address will not be published. Required fields are marked *

*